QCE AccountingPractice Examination 11

This paper covers

• Bank reconciliation for a GST-registered sole trader (unpresented cheques, unrecorded direct debit, dishonoured cheque, bank error) - Unit 4
• Correcting/adjusting general journal entries flowing from the bank reconciliation
• Balance day adjustments: reducing-balance and straight-line depreciation, doubtful debts (Allowance method), accrued wages, prepaid expenses, accrued interest - Unit 4
• GST payable/receivable and BAS reporting on cash and credit transactions - Unit 4
• Preparation of a fully classified Income Statement and Balance Sheet extract for a sole trader trading business - Unit 4
• Cost of goods sold, gross profit and net profit determination in a perpetual/periodic trading environment - Units 3-4
• Direct-method Statement of Cash Flows classification and cash vs profit reasoning - Unit 3
• Internal controls over cash and the purpose of bank reconciliation - Unit 3
• Full-suite ratio analysis of a public company (profitability, liquidity, stability, efficiency, per-share) with comparative and benchmark judgement - Unit 4
• QCAA cognitions Recall, Understand, Apply, Analyse and Evaluate using cognitive verbs assess, justify, recommend, conclude

Students are permitted to bring into the examination the materials normally allowed for this subject. Answer all questions in the spaces provided.

This is an ATARMAxxing practice paper. It is not an official examination and is not affiliated with, endorsed by, or produced by the VCAA, NESA or the QCAA.